Upbeat US factory data lifts Zinc
16/12/2014 09:06
Zinc futures closed higher in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Factory output in the US rose at the fastest pace in nine months in November 2014, signaling a pickup in the world’s biggest economy, lifting the demand outlook for industrial metals.
US manufacturing output rose 1.1 per cent in November 2014 over the previous month.
At the MCX, Zinc futures for December 2014 contract closed at Rs. 138.45 per 1 kg, up by 1.21 per cent, after opening at Rs. 137.85, against the previous closing price of Rs. 136.80. It touched an intra-day high of Rs 138.70.
16/12/2014 09:06
Zinc futures closed higher in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Factory output in the US rose at the fastest pace in nine months in November 2014, signaling a pickup in the world’s biggest economy, lifting the demand outlook for industrial metals.
US manufacturing output rose 1.1 per cent in November 2014 over the previous month.
At the MCX, Zinc futures for December 2014 contract closed at Rs. 138.45 per 1 kg, up by 1.21 per cent, after opening at Rs. 137.85, against the previous closing price of Rs. 136.80. It touched an intra-day high of Rs 138.70.
